Page 32 - CORRUPTION LATAM

MONTT GROUP MAGAZINE - 2024
www.MONTTGROUP.cOM
ized for the development of activities “for profit, whether commercial, industrial, service or investment” and a legal entity whose existence is directly related to activities “for public purposes.”
1. Public Limited Company and Limited Liability company:
Terrorist Financing Threat: Companies, specifically corporations and limited liability companies, have been associated with terrorism financing threats from international terrorist organizations, especially those that were incorporated in the Triple Border Area. From the STRs received in the FIU and investigations carried out by the Public Prosecutor’s Office, legal entities of the types mentioned above have been identified, which have been established or controlled by natural persons from jurisdictions associated with terrorist groups. Some intelligence results have indicated that partners, shareholders or legal representatives of companies incorporated in the country could be followers of international terrorist groups. However, to date, no case of terrorist financing linked to terrorist organizations or individual international terrorists has been proven in court. Thus, the degree of threat is medium level. threat of Money Laundering
The threat of money laundering and precedent crimes are mainly associated with S.A. and S.R.L., observing sufficient facts during the last decade that support the identified risk. Some emblematic cases in criminal investigation were those named by public sources as the Megas Money Laundering and Tax Evasion and those with final and enforceable convictions (Forex Case). From the analysis carried out by Seprelad, the Undersecretary of State for Taxation (SET) within the scope of its powers have revealed mechanisms and typologies of abuses of the types of companies mentioned for acts of money laundering and related precedent crimes such as: Association Criminal, Drug Trafficking, Smuggling and Customs Violations, Tax Evasion and Tax Violations, Production of inauthentic Documents and false content, violation of trademark and intellectual property rights (piracy and forgeries), scams. Almost all the companies were established and operated mainly in the east of the country, controlled by criminal organizations specialized in money laundering. Considering the Asset Laundering Typologies Report published by Seprelad in 2020, cases have been identified in which legal entities have been
improperly used for financial operation movement channels to hide funds obtained illicitly.
The punishable acts of Fraud and Production and Use of Inauthentic Documents were proven in court. Likewise, of the nine typologies observed, more than 50 percent of types of legal entities such as S.A. were violated. and S.R.L. by the final beneficiaries or controllers thereof for the opening and use of bank accounts, purchases of movable and immovable property, and even for the purchase of share packages of other legal entities. Due to the facts mentioned, the degree of threat perceived for this group of companies and specifically the SA and SRL, is medium level.
2. Individual Limited Liability Company, Simplified Share company and other types of companies: Regarding the two types of companies (EIRL/EAS) and the other types of companies (collective, simple, limited by shares), the perception of the threats of terrorist financing, money laundering and precedent crimes is low, considering that during the last five years, even before, they were not linked to acts of terrorist financing, and sporadically with precedent crimes of money laundering (tax evasion, tax violations in general and other associated crimes), and In the case of the EAS, a recently created business figure (Law No. 6480 of January 8, 2020), no events have been identified regarding the threats under study.
3. Cooperatives
Regarding Cooperatives, it is important to make considerations about their nature, before analyzing the threat they pose. In this sense, various aspects must be considered, since according to the laws of creation and operation (CCP, Law No. 438/94 and Law No. 5501/15) the voluntary association of people with common economic, social and cultural aspirations, through a jointly owned, democratically controlled, non-profit company.
For its part, Law No 1015/97 and its amending laws determine them as obligated subjects in order to comply with the requirements demanded by the AML/CFT rules and leisures, these are the same ones made or offered by the FIs with the exception of some limitations, such as the impossibility of making international electronic transfers. Due to the above, it has been considered to analyze cooperatives as a separate group due to their particular condition.
päG :32
www.monttgroup.com